Accord Mortgages is a subsidiary of Yorkshire Building Society. It offers a range of range of residential and buy-to-let mortgage products.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Accord’s products are only available to approved intermediaries and partners whose business model is closely aligned with Accord. This means ordinary customers cannot apply for an Accord mortgage direct. Instead they must go via a broker or some other intermediary.
Accord offers a range of residential and buy-to-let mortgage products. Accord will approve loans for the purchase and re-mortgage of properties. Mortgage loans can also be taken out to raise capital for the purpose of purchasing other properties, home improvements, holidays, buy-to-let business expansion, and debt consolidation.
Accord will not approve loans for buying holiday homes, right to buy properties, and a number of other exclusions. The minimum loan period of an Accord mortgage is 5 years and the maximum is 35 years.
Residential mortgage products include fixed, tracker and offset mortgages for between two and five year terms. Various special deals are available at any given time, including cashback products and free valuation offers. The maximum loan to value (LTV) is 95% for an Accord mortgage.
Applicants must be at least 25 to qualify for an Accord mortgage. The maximum age allowed at the end of the mortgage term is 75. Applicants must have an income exceeding £25,000 per annum. This also applies when a joint application is made between two unconnected people. Only certain types of income are allowed.
The buy-to-let section of Accord mortgages is run independently to the residential business and therefore interest rates vary. Applications for a buy-to-let mortgage must be made via an intermediary. For both residential and buy-to-let mortgages, each application will be considered on its own merits. Self employed and employed applicants are accepted, although evidence of income (amongst other things) will be required.
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